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Insurance Journal delivers the latest business news for the Property/Casualty insurance industrySat, 01 Aug 2015 08:17:24 +0000en-UShourly1http://wordpress.org/?v=4.2.2Japan Earthquake Premiums to Rise as Insurers Reassess Risk After Fukushimahttp://www.insurancejournal.com/news/international/2015/07/30/376948.htm
Thu, 30 Jul 2015 08:41:20 +0000http://www.insurancejournal.com/?p=376948Japan’s insurance companies are pushing for an average 19 percent increase in earthquake premiums as they reassess risk following the unprecedented magnitude 9 quake four years ago. The increase could come into effect in January 2017, according to the Ministry of Finance …

]]>UK Insurers to Stress Test Capital Reserves Against Synchronized Terrorist Attackhttp://www.insurancejournal.com/news/international/2015/07/10/374667.htm
Fri, 10 Jul 2015 12:37:59 +0000http://www.insurancejournal.com/?p=374667UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …

]]>Washington City to Get Tsunami Warning Systemhttp://www.insurancejournal.com/news/west/2015/05/19/368674.htm
Tue, 19 May 2015 15:39:11 +0000http://www.insurancejournal.com/?p=368674Birch Bay, Wash. will soon be equipped with a tsunami warning system. The Bellingham Herald reported that the Whatcom County Sheriff’s Office is working with the state to set up an emergency warning system for Birch Bay that would provide …

]]>Pacific Northwest Study Says More Could Survive Tsunami if They Can Just Walk Fasterhttp://www.insurancejournal.com/news/west/2015/04/15/364457.htm
Wed, 15 Apr 2015 15:38:21 +0000http://www.insurancejournal.com/?p=364457About 5,500 more people could survive a major tsunami hitting the Pacific Northwest if they just walk a little faster to higher ground after roads are knocked out, a new study shows. The report published Monday in the Proceedings of …

]]>How Another Country’s Insurance Industry Is Facing Climate Changehttp://www.insurancejournal.com/news/national/2015/04/09/363908.htm
Thu, 09 Apr 2015 23:15:06 +0000http://www.insurancejournal.com/?p=363908Tim Grafton, chief executive of the Insurance Council of New Zealand, lives in a country surrounded by risk on all sides, and he’s unabashed in his efforts to use flooding events, frequent storms or other out-of-the-usual weather phenomenon as opportunities to …

]]>Work on ‘Tsunami-Proof’ School on Washington Coast Underwayhttp://www.insurancejournal.com/news/west/2015/01/22/354926.htm
Thu, 22 Jan 2015 16:23:17 +0000http://www.insurancejournal.com/?p=354926Ground has been broken for a new school building on the Washington coast at Westport. Officials say the structure is designed to be tsunami-proof. KOMO-TV reported that the planned “vertical evacuation structure” will be an addition to the Ocosta Elementary …

]]>Oregon State Warned About Building in Tsunami Zonehttp://www.insurancejournal.com/news/west/2014/12/29/351263.htm
Mon, 29 Dec 2014 17:08:11 +0000http://www.insurancejournal.com/?p=351263Oregon’s state geologist urged Oregon State University not to put a marine studies building in a tsunami zone south of Newport’s Yaquina Bay Bridge – or at least build it to withstand waves as high as 43 feet. The school, however, …

]]>Prison Sites at Salt Lake City Could Get Hit By Tsunamihttp://www.insurancejournal.com/news/west/2014/12/23/350999.htm
Tue, 23 Dec 2014 17:04:52 +0000http://www.insurancejournal.com/?p=350999The ground shakes violently and then a wall of salty, brine-shrimp-laden water crashes into the Utah State Prison. The cells of the state’s most dangerous inmates start to flood. Panicked Corrections officers must make a tough choice – hope the …

]]>Willis Re Unveils New Japan Tsunami Modelhttp://www.insurancejournal.com/news/international/2014/12/03/348766.htm
Wed, 03 Dec 2014 09:30:46 +0000http://www.insurancejournal.com/?p=348766Willis Re, the reinsurance division of Willis Group Holdings, the risk adviser, insurance and reinsurance broker, has released a new Japan Tsunami Model to advance the industry’s understanding of catastrophic tsunami losses. The tsunami model, which was developed in-house alongside …

]]>Judge: Sailors Can Sue California Company Over Fukushima Exposurehttp://www.insurancejournal.com/news/west/2014/10/30/345455.htm
Thu, 30 Oct 2014 15:41:38 +0000http://www.insurancejournal.com/?p=345455U.S. Navy personnel who were exposed to radiation from Japan’s wrecked Fukushima plant during earthquake and tsunami relief efforts in 2011 can sue the power station’s operator in California, a court ruled. U.S. District Judge Janis L. Sammartino in San …

]]>No Fukushima Radiation Found in Oregon, Says Grouphttp://www.insurancejournal.com/news/west/2014/07/30/336174.htm
Wed, 30 Jul 2014 16:15:09 +0000http://www.insurancejournal.com/?p=336174A group testing West Coast waters for radiation from a damaged Japanese nuclear power plant says no evidence of contamination has been found in Oregon. Massive amounts of contaminated water were released from the Fukushima nuclear power plant in Japan …

]]>Tsunami Bulletin Issued Following Alaska Quakehttp://www.insurancejournal.com/news/west/2014/06/23/332738.htm
Mon, 23 Jun 2014 22:35:41 +0000http://www.insurancejournal.com/?p=332738A magnitude 8.0 earthquake triggered a tsunami warning for Alaska on Monday, according to a National Weather Service alert. The quake was located in the Rat Islands, which are part of the Aleutian Island chain. NWS said the deep quake, …

]]>Tsunami Debris Skiff Found On Washington Coasthttp://www.insurancejournal.com/news/west/2014/05/23/329982.htm
Fri, 23 May 2014 16:00:50 +0000http://www.insurancejournal.com/?p=329982More than three years after the tsunami hit Japan, evidence of the disaster continues to haunt the West Coast where residents know they also are vulnerable. A skiff that was once used by someone near Sendai washed ashore in January …

]]>Tsunami Advisory In Effect for Hawaii from Chile Quakehttp://www.insurancejournal.com/news/west/2014/04/02/325150.htm
Wed, 02 Apr 2014 16:18:00 +0000http://www.insurancejournal.com/?p=325150U.S. officials say they’ve found no imminent threat of a tsunami along the coasts of Hawaii, Alaska, California, Oregon or Washington after a major earthquake near Chile. Paul Whitmore, the director of the National Weather Service’s West Coast and Alaska …

]]>M6.9 Quake Strikes off Northern California Coasthttp://www.insurancejournal.com/news/west/2014/03/10/322865.htm
Mon, 10 Mar 2014 20:47:31 +0000http://www.insurancejournal.com/?p=322865A magnitude 6.9 earthquake struck off the coast of Eureka in Northern California, shaking regions as far away as San Francisco and parts of Oregon, according to the United States Geological Survey. The earthquake, which struck at a depth of …

]]>New Map Predicts Tsunami Effects On Alaska Cityhttp://www.insurancejournal.com/news/west/2013/11/25/312198.htm
Mon, 25 Nov 2013 17:54:47 +0000http://www.insurancejournal.com/?p=312198The state has released a tsunami inundation map for Sitka, Alaska showing the estimated high-water mark in the event of a tsunami. But Sitka Fire Chief Dave Miller said not to take the map as the final word on how …

]]>Tsunami Warning Centers in Alaska, Hawaii Open Despite Shutdownhttp://www.insurancejournal.com/news/west/2013/10/07/307421.htm
Mon, 07 Oct 2013 16:42:25 +0000http://www.insurancejournal.com/?p=307421Despite the partial government shutdown, Americans have a full team of scientists tracking every possibility for an earthquake-triggered tsunami. The nation’s two tsunami warning centers remain fully staffed and operating around the clock in Alaska and Hawaii. Stuart Weinstein is …

]]>Scientists Defining Cascadia Subduction Zone in Pacific Northwesthttp://www.insurancejournal.com/news/west/2013/09/05/304125.htm
Thu, 05 Sep 2013 15:36:27 +0000http://www.insurancejournal.com/?p=304125Scientists are just back from a monthlong research cruise in the Pacific Ocean off Washington state, where they were trying to find the stickiest point on a section of the Cascadia Subduction Zone, the huge undersea fault that breaks loose …

]]>Found Boat in Hawaii May Be Tsunami Debrishttp://www.insurancejournal.com/news/west/2013/08/19/302152.htm
Mon, 19 Aug 2013 16:01:47 +0000http://www.insurancejournal.com/?p=302152The Department of Land and Natural Resources says a skiff that floated into Oahu’s Kawela Bay may be tsunami debris. KITV-TV reported the 20- to 25-foot skiff discovered Wednesday was covered with barnacles. A state crew found no invasive species …

]]>New Maps Show Less High Ground In Oregon Tsunamihttp://www.insurancejournal.com/news/west/2013/06/17/295725.htm
Mon, 17 Jun 2013 15:55:04 +0000http://www.insurancejournal.com/?p=295725New tsunami maps being reviewed in northwest Oregon show there’s less high ground than previously thought if residents have to flee the most serious earthquake and tsunami projected. The Daily Astorian reported that Oregon officials have been showing them to …

]]>First Confirmed Japanese Tsunami Debris in Californiahttp://www.insurancejournal.com/news/west/2013/04/29/290104.htm
Mon, 29 Apr 2013 16:08:36 +0000http://www.insurancejournal.com/?p=290104A barnacle-covered fishing boat that washed ashore this month in Crescent City, California, has been confirmed as the first debris from the 2011 tsunami in Japan to reach California’s shores. The National Oceanic Atmospheric Administration confirmed the boat’s origin with …

]]>RIMS in Southern California Touts Riskshttp://www.insurancejournal.com/news/west/2013/04/22/289400.htm
Mon, 22 Apr 2013 23:47:37 +0000http://www.insurancejournal.com/?p=289400Risk managers will play a greater role in strategic planning in the near future, according to a report issued on Monday. That was among the plethora of risk related information delivered at the annual Risk and Insurance Management Society conference …

]]>Tsunami Preparedness Week in Alaskahttp://www.insurancejournal.com/news/west/2013/03/27/286259.htm
Wed, 27 Mar 2013 15:47:47 +0000http://www.insurancejournal.com/?p=286259Gov. Sean Parnell declared this Tsunami Preparedness Week in Alaska. Parnell, in his proclamation, says Alaska’s vast coastline is home to many communities that are vulnerable to tsunamis. He says the state also falls within one of the most seismically …

]]>Report Makes Chilling Forecast On Northwest Quakehttp://www.insurancejournal.com/news/west/2013/03/18/285014.htm
Mon, 18 Mar 2013 15:19:37 +0000http://www.insurancejournal.com/?p=285014More than 10,000 people could die when – not if – a monster earthquake and tsunami occur just off the Pacific Northwest coast, researchers told Oregon legislators . Coastal towns would be inundated. Schools, buildings and bridges would collapse, and …

]]>Big Quake Could Cause $30B Damage to Oregonhttp://www.insurancejournal.com/news/west/2013/02/06/280265.htm
Wed, 06 Feb 2013 17:04:40 +0000http://www.insurancejournal.com/?p=280265A state commission says a magnitude 9 earthquake off the Oregon coast and tsunami could cause more than $30 billion damage to the state economy. Such a quake also could kill as many as 10,000 people in the state, but …

]]>Coast Guard: Large Dock Washes Ashore On Washington Coasthttp://www.insurancejournal.com/news/west/2012/12/20/274877.htm
Thu, 20 Dec 2012 17:18:34 +0000http://www.insurancejournal.com/?p=274877The Coast Guard on Tuesday spotted a large dock that has washed ashore in a remote section of Olympic National Park on the northwest Washington coast. Scientists are concerned it could be debris from the tsunami that struck Japan last …